RBI Penalises Adarsh Co-operative Bank Limited, Sirohi

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..... RBI Penalises Adarsh Co-operative Bank Limited, Sirohi - News and Press Release Dated:- 26-11-2013 - News - The Reserve Bank of India has imposed a monetary penalty of Rs. 5.00 lakh (Rupees five lak .....

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..... h only) on Adarh Urban Co-operative Bank Limited, Sirohi in exercise of powers vested in it under the provisions of Section 47(A)(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As .....

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..... Applicable to Co-operative Societies), for violating the Know Your Customers (KYC) norms and Anti Money Laundering (AML) directives of Reserve Bank of India. The Reserve Bank of India had issued a s .....

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..... how cause notice to the bank in response to which the bank submitted a written reply. After considering the bank's reply in the matter, the Reserve Bank of India came to the conclusion that the violat .....

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..... ion was substantiated and warranted imposition of the penalty. Ajit Prasad Assistant General Manager - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - .....

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..... taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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